WWD Digital Daily

Anta Sports Confirms 4.7B Euro Offer for Arc’teryx Owner

- BY TIFFANY AP

The proposal positions Anta to take advantage of the push for the Beijing Winter Olympics in 2022.

BEIJING — Chinese sportswear company Anta Sports has confirmed it has put in a joint $4.7 billion euro, or $5.4 billion, offer with private equity firm FountainVe­st for Amer Sports, the Finnish outdoor gear maker that owns brands including Arc’teryx and Salomon.

In a statement to the Hong Kong Stock Exchange on Wednesday, Anta said its consortium of investors tendered an offer to acquire the entire share capital of Amer Sports at a cash considerat­ion of 40 euros per share.

The transactio­n is subject to approval from the board and shareholde­rs in the company holding at least 90 percent of Amer, which is listed on the Nasdaq Nordic.

Anta Sports, which saw turnover last year of 16.7 billion renminbi, or

$2.43 billion, has been actively seeking acquisitio­n targets to globalize its business. The firm is the largest in its category in China, dressing the

Chinese Olympics team in the games in Pyeongchan­g and Rio de Janeiro in its eponymous product line, and also distribute­s brands including Fila. Acquiring Amer Sports would add prestige names to its business and position it to take advantage of the government­sponsored push for the upcoming Beijing Winter Olympic Games in 2022.

Aside from Arc’teryx and Salomon, Amer Sports also owns Swedish fashion label Peak Performanc­e, and a number of sporting goods brands such as Wilson, the tennis racket manufactur­er, Louisville Slugger baseball bats and Atomic skis.

According to Jefferies analyst Jessica

Fei, Anta could help the brands further penetrate the Chinese market. For the fiscal year of 2017, Amer recorded relatively modest sales in China of

120 million euros, up 15 percent year- over-year.

She noted also that “it is likely that Anta will bring more private equity firms in addition to FountainVe­st Partners to join the acquisitio­n,” although “Anta expects to hold [more than] 50 percent stake and take on major operationa­l responsibi­lities.”

 ??  ?? Amer Sports owns brands such as Arc’teryx,Salomon, Wilson, and Peak Performanc­e.
Amer Sports owns brands such as Arc’teryx,Salomon, Wilson, and Peak Performanc­e.

Newspapers in English

Newspapers from United States